Which of the following statements is false regarding agreed-upon procedures engagements?
A) In this type of engagement, the independent practitioner is engaged to assist in evaluating subject matter or an assertion.
B) In this type of engagement, the nature, timing, and extent of agreed-upon procedures is the same for all engagements.
C) In this type of engagement, the practitioner does not perform a review, and does not provide an opinion or negative assurance.
D) In this type of engagement, the report should indicate that it is restricted in its use to specified parties.

Question

Quizplus · Accepted Answer

The nature, timing, and extent of agreed-upon procedures may vary depending on the needs of the client and the nature of the subject matter being tested, as determined by the parties in the engagement agreement. Therefore, statement B is false. The other statements are true.

Which of the Following Statements Is False Regarding Agreed-Upon Procedures